Air China strengthens ties with Cathay Pacific Airways
Citic Pacific disposes of Cathay Pacific-shares in Air China Air China’s striving for a consequent development of new market segments and flight routes gets a new boost. At the beginning of this week the company announced the acquisition of another 12.5 per cent of the shares of Cathay Pacific Airways. Citic Pacific sells its stake for the price of HH$ 6.33 billion to the public Chinese airline. Another 2 per cent pass to Swire Pacific. The transaction is still subject to the authorities’ approval. So far Air China had been holding 17.49 per cent of the Cathay Pacific Airways shares. Including the stake of Citic Pacific this figure grows to 29.99 per cent. This is opposed to a 18%-holding of Cathay Pacific Airways in Air China. The two airlines intend to consolidate and develop the positions of the airports Beijing and Hong Kong as hubs for passenger and air cargo transport from and to eastern Asia.
Quelle: Österreichische Verkehrszeitung |